KYIV, Ukraine—The Worldwide Foundation for Credit Unions is reporting a $150,000 grant by its Ukrainian Credit Union Displacement Fund and facilitated by the USAID/World Council of Credit Unions (WOCCU) Credit for Agriculture Producers (CAP) Project has helped 464 Ukrainian credit union member farmers finance the purchase of new agricultural equipment.
“The two-year anniversary of Russia’s full-scale war in the country approaches with Ukrainian farmers having faced various challenges, including a lack of fuel, blocked exports and rising inflation,” the Foundation said. “Those obstacles make farming more burdensome and less profitable, especially for small agricultural producers.”
According to the WCUF, the $150,000 grant allowed credit unions to support small- and medium-sized farmers, a key membership base, by co-financing the purchase of agricultural equipment and tools to ensure they can continue producing crops and feeding their communities.
More Than 1,000 Tools Purchased
As a result, 464 agricultural producers purchased more than 1,000 thousand tools, including a mini-tractor, hay baler, cultivator and sowing machine, the foundation said.
“I would like to sincerely thank Worldwide Foundation for Credit Unions and the CAP Project for understanding the hard work of rural people and providing me with financial assistance to purchase the equipment I need to prepare wood for heating a greenhouse, where I grow vegetables,” Volodymyr Metla, a farmer from Chernihiv Oblast and member of Credit Union “Koriukivska,” said in a statement.
Nearly $2 Million Raised
Since February 2022, WFCU reported it has raised more than $1.8 million through its Ukrainian Credit Union Displacement Fund, implemented seven relief programs and launched three early recovery programs totaling nearly $1.5 million that have focused on providing assistance to Ukrainian credit unions and their members in wartime.
To donate to the Ukrainian Credit Union Displacement Fund, click here.
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